CML calls for rethink on equity release
www.moneynews.co.uk > General finance > CML calls for rethink on equity release
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Money News |
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CML calls for rethink on equity release
Mon 17th Mar 2008
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The report found that Britain has a number of factors that would encourage the sector, including a growth in housing wealth, an ageing population and potential pension shortfalls, but so far it has only seen "steady growth".
Currently equity release markets in Australia, New Zealand and the US have developed at a more rapid rate than in the UK, where negative views about the sector have stymied growth.
The CML suggests that involving some of the country's larger lenders and seeing a more positive stance from the government on equity release schemes could "transform the market".
Peter Williams, an independent consultant and author of the report, said although the UK equity release market will continue to develop, "it would grow much bigger and faster if the industry moved forward in more creative ways".
In other news, earlier this month the CML reported a monthly fall in mortgage lending for January.
Related News : General finance |
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